GlaxoSmithKline Takes A 25% Stake In Aspen Pharmacare Ltd. Japanese Unit
GlaxoSmithKline Plc (GSK), the U.K.’s biggest drugmaker, will take a stake in the Japanese subsidiary of Aspen Pharmacare Holdings Ltd. (APN) as part of an alliance to boost commercial operations in the Asian country.
Glaxo will transfer distribution rights to some products in Japan to the unit, in which it will own a 25 percent stake, Johannesburg-based Aspen said today in a statement. The balance will be held by the South African company, also Africa’s biggest generic drugmaker. Aspen has been seeking a partner in Japan to get better access to the fast-growing market, Chief Executive Officer Stephen Saad said in an interview with Bloomberg TV Africa last month.
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Glaxo will transfer distribution rights to some products in Japan to the unit, in which it will own a 25 percent stake, Johannesburg-based Aspen said today in a statement. The balance will be held by the South African company, also Africa’s biggest generic drugmaker. Aspen has been seeking a partner in Japan to get better access to the fast-growing market, Chief Executive Officer Stephen Saad said in an interview with Bloomberg TV Africa last month.
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